The City calls for sweeping change at the oil giant, pressuring the company to liquidate assets and raising doubts about the chairman's performance

The oil giant is under pressure to undergo a radical restructure by shareholders (Misha Japaridze)

Some of BP’s biggest shareholders are pressing the oil giant to liquidate up
to half of its assets in a radical restructuring.

Investors have also raised fresh doubts about the performance of Carl-Henric
Svanberg, the chairman.

The City pressure on BP comes as it struggles to salvage a landmark $16
billion (£9.8 billion) share swap deal with Rosneft, Russia’s
statecontrolled group.

The deal was intended to set BP back on its feet after the Gulf of Mexico oil
spill last year but has become mired in legal problems.

Investors are furious at BP’s handling of the affair — which has pitched it
into a head-to-head battle with some of Russia’s richest men.

Top 10 shareholders are calling for the company to expand a $30 billion
programme of asset sales that it launched to cover the costs of the disaster
at its Macondo well. It has sold $24 billion of oil fields